• EUR/USD has rebounded to 1.1250 from Wednesday's post-CPI low of 1.1113, its weakest since May 2025

• Key Fibonacci resistance is 1.1254, the 23.6% retracement of the 1.1711-1.1113 fall

• A break/close above 1.1254 opens the 21-dma at 1.1293 and the 38.2% Fibo retracement at 1.1341

• FX option markets shows traders paring downside bets and mild demand for EUR/USD topside protection

• Support lies with Thursday's 1.1150 low, 200-weekly moving average 1.1102 and 1.1100 option barriers/defence

• Related comment - Dollar may no longer hedge US equity risk
EUR/USD daily chart (EBS)

(Richard Pace is a Reuters market analyst. The views expressed are his own)